Why are we buying certificates instead of making grants? Just as market prices help coordinate and incentivize the efficient production of commercial products, they could also help coordinate and incentivize efficient altruism. We also think that paying for performanceafter the fact has a number of big advantages. Not convinced yet? See a more complete answer.

Applications will include an asking price, the minimum amount of money that would be enough to compensate you for undoing the humanitarian impact of the project. The actual awards will be determined by combining the asking prices with our impact assessments in a (truthful) auction. Intead of buying 100% of your project’s impact, we’ll actually buy some fraction less than 50% (at your discretion).

The awards will be made in ten $1,000 rounds, spread over the course of the year. We describe the first round results here. The deadline for the second round is April 25. We’ll post the results of each round as they occur. New proposals can be made in between rounds. Once an application is submitted it will be considered in each round unless it is withdrawn.